Lighthouse Investment Partners LLC Buys 152,097 Shares of CRH plc (NYSE:CRH)

Lighthouse Investment Partners LLC lifted its stake in shares of CRH plc (NYSE:CRH) by 190.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 232,120 shares of the construction company’s stock after acquiring an additional 152,097 shares during the period. CRH makes up about 0.7% of Lighthouse Investment Partners LLC’s holdings, making the stock its 22nd largest holding. Lighthouse Investment Partners LLC’s holdings in CRH were worth $17,404,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Nordea Investment Management AB bought a new stake in CRH during the 1st quarter valued at approximately $71,172,000. Janney Montgomery Scott LLC boosted its stake in CRH by 211.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 38,683 shares of the construction company’s stock valued at $3,337,000 after purchasing an additional 26,276 shares during the period. Norden Group LLC bought a new stake in CRH during the 1st quarter valued at approximately $4,041,000. Cetera Advisors LLC bought a new stake in CRH during the 1st quarter valued at approximately $1,277,000. Finally, SG Americas Securities LLC boosted its stake in CRH by 510.9% during the 1st quarter. SG Americas Securities LLC now owns 22,751 shares of the construction company’s stock valued at $1,963,000 after purchasing an additional 19,027 shares during the period. Institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of CRH opened at $93.24 on Friday. CRH plc has a 1 year low of $51.59 and a 1 year high of $94.14. The stock has a 50 day simple moving average of $85.30 and a 200-day simple moving average of $81.99.

CRH (NYSE:CRH) last issued its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.85. The company had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. As a group, research analysts forecast that CRH plc will post 5.44 earnings per share for the current year.

CRH Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd were issued a $0.35 dividend. The ex-dividend date was Friday, August 23rd. This represents a dividend yield of 1.7%.

Analysts Set New Price Targets

CRH has been the subject of several recent analyst reports. DA Davidson increased their target price on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Morgan Stanley raised CRH from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $87.00 to $88.00 in a report on Tuesday, July 9th. Stephens assumed coverage on CRH in a report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price target for the company. StockNews.com cut CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Citigroup cut their price target on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.70.

CRH Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.